HARDSHIP DISTRIBUTIONS. Effective January 1, 1989, if available and elected by the Employer in the Adoption Agreement, a Participant may request a distribution due to hardship from the vested portion of his or her Accounts, (other than from his or her Qualified Nonelective Contributions Account, Qualified Matching Contributions Account or earnings accrued after December 31, 1988, on the Participant's Elective Deferrals) only if the distribution is made both due to an immediate and heavy financial need of the Participant and is necessary to satisfy such financial need.
Appears in 4 contracts
Samples: Prototype Defined Contribution Plan Adoption Agreement (Media 100 Inc), 401(k) Plan Adoption Agreement (Pennfed Financial Services Inc), Prototype Defined Contribution Plan Adoption Agreement (Tca Cable Tv Inc)
HARDSHIP DISTRIBUTIONS. Effective January 1, 1 1989, if available and elected by the Employer in the Adoption Agreement, a Participant may request a distribution due to hardship from the vested portion of his or her Accounts, (other than from his or her Qualified Nonelective Contributions Account, Qualified Matching Contributions Account or earnings accrued after December 31, 1988, on the Participant's Elective Deferrals) only if the distribution is made both due to an immediate and heavy financial need of the Participant and is necessary to satisfy such financial need.
Appears in 1 contract
Samples: Prototype Defined Contribution Plan Adoption Agreement (Labor Ready Inc)
